Back To Listings
Additional Images

4375 Jutland Drive

4375 Jutland Drive
San Diego, CA 92117
Availability: Price:$11,200,000 Size:31,530 SF
Shipping: This a very rare single tenant office building offering with more than 12 years remaining on its initial lease. The tenant pays reimbursements above its 2013 base year, allowing for returns to be shielded from any increase in property tax.
Pricing: $0.00
Qty:

Description





Agents

BEN TASHAKORIAN | FIRST VICE PRESIDENT


Senior Director: Institutional Property Advisors (IPA)
License: CA 01333884
Dir: (858) 373-3176
Fax: (858) 373-3110
btashakorian@ipausa.com

Nick Totah | Senior Associate


 Associate Director: NOIPG
License: CA 01922255
Dir: (858) 373-3159
Cel: (619) 651-3412
nick.totah@marcusmillichap.com

Description

Marcus & Millichap is pleased to present 4375 Jutland Drive in San Diego, a very rare single-tenant office building offering with more than 12 years remaining on its initial lease. The tenant is Aldridge Pite, LLP, a full-service provider of legal services to depository and non-depository financial institutions. The tenant pays reimbursements above its 2013 base year, allowing for returns to be shielded from any increase in property tax. In 2015 the owner upgraded several of the property’s facilities, including rebuilding all bathrooms, repaving the entire parking lot, landscaping & irrigation improvements, installing LED lighting, repainting the metal exterior, reglazing and sealing all exterior glass and replacing all exit gate sensors and tracks. The roof was installed in 2009 and carries a 15 year guarantee and the elevator and HVAC units are in excellent condition.

Features

  • Turnkey Investment Opportunity in Low Volatility Submarket
  • Long-Term Single-Tenant Office Building
  • 12+ Years Left Remaining on Lease
  • 3.5% Annual Rental Increases
  • $200,000 in Improvements in 2015
  • Gated Property with Subterranean Parking Garage with 20+ Private Balconies
  • High Visibility From Interstate-5
  • Property is Divisible into 4 Separate Units
  • 4.13 / 1,000 SF Parking Ratio

Offering Price

$11,200,000

Net Rentable Area

31,530 SF

Year Constructed

1991

Property Type

Office

Land Area

2.86 AC

Details

  • 22932181
  • Office
  • Price:$11,200,000 Size:31,530 SF
  • New

Shipping Information

  • Item Requires Shipping
  • This a very rare single tenant office building offering with more than 12 years remaining on its initial lease. The tenant pays reimbursements above its 2013 base year, allowing for returns to be shielded from any increase in property tax.

Customer Reviews

Comment Total Reviews (0)

Write the First Review!

You must login to post a review.